Maryland State Retirement & Pension System Has $1.83 Million Holdings in Rockwell Automation, Inc. $ROK

Maryland State Retirement & Pension System increased its stake in Rockwell Automation, Inc. (NYSE:ROK) by 2.7% in the second quarter, Holdings Channel.com reports. The firm owned 5,500 shares of the industrial products company’s stock after purchasing an additional 143 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Rockwell Automation were worth $1,827,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Howe & Rusling Inc. boosted its stake in shares of Rockwell Automation by 4.9% during the 1st quarter. Howe & Rusling Inc. now owns 794 shares of the industrial products company’s stock worth $205,000 after buying an additional 37 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Rockwell Automation by 0.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,652 shares of the industrial products company’s stock worth $1,462,000 after buying an additional 43 shares during the last quarter. Wealthfront Advisers LLC boosted its stake in shares of Rockwell Automation by 0.6% during the 1st quarter. Wealthfront Advisers LLC now owns 7,708 shares of the industrial products company’s stock worth $1,992,000 after buying an additional 43 shares during the last quarter. Koshinski Asset Management Inc. boosted its stake in shares of Rockwell Automation by 1.1% during the 1st quarter. Koshinski Asset Management Inc. now owns 4,097 shares of the industrial products company’s stock worth $1,059,000 after buying an additional 46 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Rockwell Automation by 7.9% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 631 shares of the industrial products company’s stock worth $163,000 after buying an additional 46 shares during the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Rockwell Automation

In other news, VP Isaac Woods sold 365 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $348.44, for a total transaction of $127,180.60. Following the transaction, the vice president directly owned 1,691 shares of the company’s stock, valued at approximately $589,212.04. This trade represents a 17.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Cyril Perducat sold 1,435 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $348.08, for a total transaction of $499,494.80. Following the transaction, the senior vice president directly owned 3,787 shares in the company, valued at $1,318,178.96. This represents a 27.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,922 shares of company stock worth $11,191,812. 0.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Rockwell Automation in a research note on Wednesday. Stephens restated an “overweight” rating and set a $375.00 price objective (up from $350.00) on shares of Rockwell Automation in a research note on Wednesday, July 16th. Wall Street Zen raised shares of Rockwell Automation from a “hold” rating to a “buy” rating in a report on Sunday, September 21st. Wells Fargo & Company upped their target price on shares of Rockwell Automation from $345.00 to $355.00 and gave the company an “equal weight” rating in a report on Monday, October 6th. Finally, Bank of America raised shares of Rockwell Automation from a “neutral” rating to a “buy” rating and upped their target price for the company from $360.00 to $410.00 in a report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $340.68.

Rockwell Automation Stock Down 2.6%

Rockwell Automation stock opened at $333.79 on Friday. The stock has a market cap of $37.53 billion, a P/E ratio of 39.18, a P/E/G ratio of 2.98 and a beta of 1.41. The company has a quick ratio of 0.72, a current ratio of 1.06 and a debt-to-equity ratio of 0.72. Rockwell Automation, Inc. has a twelve month low of $215.00 and a twelve month high of $360.92. The company’s 50-day moving average price is $343.79 and its two-hundred day moving average price is $314.72.

Rockwell Automation (NYSE:ROK) last released its quarterly earnings results on Wednesday, August 6th. The industrial products company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.15. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Rockwell Automation had a net margin of 12.03% and a return on equity of 30.14%. The business’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.71 EPS. As a group, analysts expect that Rockwell Automation, Inc. will post 9.35 EPS for the current year.

Rockwell Automation Profile

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products and services.